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lawmakers have less than a month to reach a deal to avert the fiscal cliff. both sides seem to be digging in for a fight. the white house saying it will not agree to a deal without raising taxes on the wealthiest americans. the gop says they want to see changes made to medicare, medicaid and social security. here is republican senator kelly ayotte of new hampshire. >> i was disappointed by the president's proposal. i think it is essentially a rerun of his budget proposal. i mean the revenue proposals are $1.6 trillion in revenue and tax increases. it is a massive tax increase but also, also not significant and meaningsful entitlement reforms. jon: a piece today in the "wall street journal" says more is at stake than just the fiscal cliff. quote, democratic lawmakers and party strategists say the success of his second term could ride on how this early battle unfolds. if mr. obama can cement a bipartisan deal to his liking many believe his approach to the negotiations could serve as template for tackling major issues that could play out over the next four years. yet for many other democrats
the president's fiscal cliff plant to republican house speaker john bain and not buying it. he just said white house needs to get serious and the markets are turning lower. also had fiscal cliffs survival kit home additions that you contain right now to prepare. dennis: blamed superstorm sandy. retailers playing the blame game for week november same store sales. analysts already asking what it really the storm or the economy did pull those numbers down? cheryl: we are watching a power ball conference this hour with more details expected on the two winners of the $580 million record jackpot from missouri and arizona. of gone home to buy my ticket. dennis: stocks every 15 minutes, nicole petallides, for the stock exchange where stocks the suddenly lower on more cliffphobia. nicole: i can say in the wall street traders saying every headline out of washington moving this market, fiscal cliff phobia is a good way to say it, whatever you want to call it we have seen so many dramatic moves in the market, a particular companies making moves in preparation or all been wary about the fiscal cliff, let's
over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and cheering at the democrats. they been acquired sponsorship rights for my2k, they often see paid messages opposing the obama tax hikes. they run the gamut. some talk about the sudden switch to now playing up keeping tax cuts for everyone else. others make fun of my2k origins. a few samples. obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they help the poor. and there is this one. my2k should really be somebody else's two k. they can government not to take their money and say take it from someone else. and then there is this one, y2k was caught by programmers failing to limit code 24
's economy goes over the so-called fiscal cliff. the white house and congressional republicans said to be deadlocked. president obama released his plan. it includes 1.6 trillion dollars in new tax increases. 50 billion in new stimulus spending. and stimulus, and new power to raise the debt ceiling without congressional approval. tim geithner, john boehner appearing with chris wallace on fox news sunday. >> we're nowhere, period. we're nowhere. we put a serious offer on the table by putting revenues up there to get this question resolved but the white house has responded with virtually nothing. they have actually asked for more revenue than they have been asking the whole entire time. >> in kind of a tough position now. it is going to be, obviously a little hard for them now. they're trying to figure out where they go next. we might need to give them a little more time to let them go next. we did what you expect from us. we laid out a very detailed, carefully designed set of spending savings and tax changes that help put us back on a path to fiscal responsibility. bill: where are we
for its lackluster performance. republicans submitted their solution to the fiscal cliff yesterday. white house and other democrats dismissed it immediately. take a look at how that affected the market this morning. not at all. the dow is up 43. 13,000 is where we are. liz macdonald says we will see is a last minute deal, christmas eve, new year's eve, on the fiscal cliff. we shall see. next, a special early my take. i am fired up about the prospect of ambassador anna wintour. i couldn't wait for the normal time. i'm going to do it early. stay right there. and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. that's why ally has ia raise your rate cd.n. ally bank. your money needs an ally. stuart: california high taxes, strict green laws, a liberal supermajority in the statehouse, not exactly business friendly. that's why so many businesses are leaving. they are going to places like phoenix. so we're going to talk to the mayor of phoenix. greg stanton, what is he offering to the california refugees to get them to come
's presentation of the white house's proposal to avoid the fiscal cliff falls in line with that. the headline is $1.6 trillion in new taxes multi-year stimulus package starting with at least $50 billion in 2013 alone and the white house also wants the ability to raise the debt limit permanently unless two-thirds of congress vote against it. something also attached, about $400 billion in spending cuts not enough for republicans. >> i'm disappointed in where we are and disappointed in what's happened over the last couple of weeks. going over the fiscal cliff is serious business and i'm here seriously trying to resolve it and i would hope the white house would get serious as well. >> the white house says they are willing to do tough things to compromise, so now it's time for republicans in washington to ask the wealthiest americans to pay higher tax rates. >> asking for a political price be paid in order for congress to do its job to insure that the united states of america pays its bills and does not default for the first tim
court reforms. >>> hopes for a budget deal to avoid the "fiscal cliff" inched stocks higher today. a pair of strong economic reports also brightened the mood. the dow closed up 37 points. nasdaq gained 20. s&p added 6. >>> republican lawmakers and the white house are working overtime tonight to avoid the "fiscal cliff" stepping up phone calls and meetings within the last 24 hours. cbs reporter danielle nottingham is on capitol hill where the two sides are still talking. >>> reporter: president obama dispatched his chief negotiator tim geithner to capitol hill to work on a "fiscal cliff" deal. house speaker john boehner came out of his meeting with the treasury secretary demanding the white house get serious about spending cuts. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> reporter: if a compromise isn't reached soon, automatic tax hikes and steep budget cuts will kick in january 1. geithner moved from one end of the capitol to the other encouraging lawmakers to sign off on an extension of middle class tax c
time, we're getting a look at what the white house is offering to stop the fiscal cliff stalemate. drastic mandatory tax hikes and spending cuts will kick in with the new year unless the white house and the republicans can reach a deal. for weeks, gop lawmakers have said we're just waiting for the white house to give details, specifics, some numbers. well, tonight that's happened. the white house is calling their bluff and they've laid out how they want to cut the debt. jessica yellin is over at the white house for us tonight with new developments. jessica, what are the specifics of this offer tonight? >> reporter: hi, wolf. according to senior officials on both sides of the aisle, the president is asking for $1.6 trillion in new taxes. that includes raising taxes for families who make $250,000 or more. you'll recognize that as a pledge from his campaign. and it also includes limiting deductions and loopholes as well as other changes to capital gains and dividends taxes. well, that is the headline for republicans, wolf, who say it is far more money in tax rates than they ever expe
the white house has rejected the counteroffer from house republicans in the fiscal cliff negotiations. let's take a look at the gop offer. this is their version. it cuts $2.2 trillion from the deficit over ten years. that number also includes entitlement reforms raising the age for social security and medicare and so forth as well as $800 billion that they say they would throw into the pot in new tax revenue that would come from tax reform, from cutting tax loopholes and the like. joined now, very pleased to have with us california republican ken mccarthy, the house majority whip. congressman, welcome. good to see you this morning. >> thanks for having me. martha: so you put your number out there, you know, all kinds of response across the board this morning saying that it is, you know, equally laughable, ridiculous. there's no way that the white house is going to counter that offer. what do you think about that? >> well, i think that's sad, because think about what this president said when he campaigned. he said he wanted a balanced approach. he said he wanted 800 billion in revenue and 8
the democrats of not offering any serious proposals to avoid going over the fiscal cliff and shortly after the white house and the democrats answered that the republicans had not offered any of their own plans. is this something that's going to be able to be taken care of while you're still a representative or is it going to land in your lap when you move to the other chamber? >> you know, i hope we get it done, obviously. we want to avoid the cliff. it is a little troubling that we don't have any real plans or offers on the spending side. i think on the revenue side it's pretty clear by knew republicans are willing to give up more revenue, but we've got to see a balance. there's got to be spending cuts and if those have been offered, i'm not sure what they are. >> suarez: are you one of those members who's staked out a position on whether it has to be rates or effective revenue and not rates? >> well, i think it can be effective revenue. obviously it depends on where you put the level of deductions that can be taken. so i'd rather not raise rates at all. i think it can be done without tha
weeks ago and from nbc news, the g.o.p. says white house offer on fiscal cliff is unbalanced. bret, tell me i'm wrong here, it seems like the media is setting unto blame the republican for this outrageous offer from the president, go. >> what's the offer? what? >> a massive tax increase, no entitlement reform and no restraint on borrowing. now, there's an offer. >> in other words, in other words, there's no plan. this should be a story that the whole debate has been going on for two years about having a package of spending cuts to go along with the package of tax increases. and now, we've got the senate saying, that the one problem, entitlements is now off the table, and meaning they're no longer serious and the white house saying we don't have plans to cut anything. in other words, there is no plan. that should be the story. and just like, stuart, the entirety of 2012 campaign. nobody brought up that the barack obama didn't have a plan the entire-- it's mind-boggling. stuart: i'm looking at the so-called offer, if implemented would put mesh-- measured america straight into recession. an
. new research on the white house plan to avoid the so-called fiscal cliff is raising concerns about how much the tax hikes can do to keep the economy afloat. the edover an influential financial paper he says america needs to be focused on. a case showing the potential down sides of winning the lottery. we'll detail the case of a man who struck it rich big time, and then was found dead and buried under a concrete slab in someone's backyard. now could the woman accused of stealing his cash and killing him wind up a free woman? "kelly's court" takes a look. >> i would never hurt that man. he knows, everyone knows i would never hurt that man in any way. t from a legal settlement or annuity over 10 or even 20 years? call imperial structured settlements. the experts at imperial can convert your long-term payout into a lump sum of cash today. and i'm here to tell homeowners that are 62 and older about a great way to live a better retirement. it's called a reverse mortgage. [ male announcer ] call right now to receive your free dvd and booklet with no obligation. it answers questions like how a
. >> thank you. >> brown: after the election, it's all fiscal cliff, right? let's talk about how the white house is using social media and online efforts on that issue. >> it's as if this massive social media machine that propelled barack obama into office never stopped moving. and you found that at the white house today where he gave a speech talking about the fiscal cliff, introducing the hashtag-- which is a way of grouping something-- my2k, which is a playoff of waoeubgt, ther of y2. he's saying if you don't do something you are going to have to pay as middle-class taxpayers, $2,000 allegedly. >> if congress doesn't stop the automatic tax hikes. >> brown: but this was in the context of a whole week where he's making his play, right? but doing it online? >> it's fascinating with the president of the united states building it around a twitter campaign, we've come to take that for granted but i did a little search for this my2k. on twitter. barack obama comes up second. you know what comes up first? the conservative heritage foundation which bought a promoted tweet, which means theirs goe
a private lunch at the white house today. it suspected they will be sharing ideas about the fiscal cliff and growing speculation there may be a role for romney in the obama administration. >>> if you played powerball in arizona and missouri, you could be filthy rich. two tickets, one in each state, matched all six numbers. the holders will split a record $588 million. >> how long do you think before they come forward? >> i don't know. i would wait personally. >> a couple weeks, yep. >>> new york city nanny accused of murdering two children in her care has pleaded not guilty to those crimes. the killings of the children last month sent shockwaves throughout a city where many working parents rely on nannies to watch their kids. it sent shockwaves across the nation. yet's hearing took place in a hospital where the nanny is being treated for self-inflicted stab wounds. >>> seattle police released dash cam video of a suspect allegedly beaten by officers during his arrest. he was held down on the back on the hood of a car. his attorney says excessive force was used. >>> the retail chain has be
at the white house with more. >> reporter: exactly one month ago to avoid the fiscal cliff and after a period of optimism and what we have right now is a typical white house standoff. visiting a toy factory outside philadelphia, president urged congress to act and avoid the fiscal cliff. if not, taxes go up for everyone, including the middle class. >> that is like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: the president has started a new campaign for votes in congress. a grassroots effort on twitter and a friday trip in swing distri districts. allow rates to rise on the upper 2% of earners while extending lower rates for everyone else. >> it is not acceptable for you for the handful of republicans and democrats in congress to hold tax cuts hostage because they don't want tax rates to go up on upper income folks. >> reporter: mr. obama's opening bid includes $1.6 trillion in new revenue. half from higher rates in the wealthy. cuts in medicare and $50 billion in new infrastructure spending. when tim geithner laid out the plan for mitch mcconnell, aides on b
leaders about averting the fiscal cliff and achieving the balanced approach the white house says it wants. and i made clear that we put real concessions on the line by putting revenues on the table right up front. unfortunately many democrats continue to rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. mr. bowles himself said yesterday there's been no serious discussion on spending cuts so far. and unless there is, there is a real danger of going off the fiscal cliff. going off the fiscal cliff will hurt our economy, it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester, and pave the way for tax reform and entitlement reform. we are the only one was a balanced plan to protect the economy, protect the american jobs, and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reform, it's going to be impossible to address our country's debt crisis and get our economy going again and create jobs.
committee after republicans slapped the whole fiscal cliff plan came from the white house yesterday. here's the speaker. no substantive progress has been made between the white house and the house over the last two weeks. listen, this is not a game. jobs are on the line, the american economy is on the line and this is a moment for adult leadership bill: there were certainly sharp new reaction from republicans to a white house plan to avoid the fiscal cliff. this is the opening play by the president. here is house speaker john boehner who says that weeks of talks have gone nowhere. melissa: two weeks ago we had very product testify conversation at the white house but based on where we stand today i would say two things. first, despite the claims that the president supports a, a balanced approach, the democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. bill: the speaker considers that just absolutely wasted time. kentucky democratic congressman john yarmout
that fiscal cliff. so far republicans are sticking to their guns. the white house is stepping up negotiations. tim geithner is set to meet top leaders to look closer at the numbers. mike em an mule has more from capitol hill. >> there's a great discussion about raising taxes. many talk about entitlement reform but with the nation's debt at 16 trillion and counting we asked lawmakers what they are willing to cut to get a deal. >> republicans offered a plan to avoid the fiscal cliff through significant spending cuts. >> we put revenue on the table as long as it's accompanied serious spending cuts to avert the crisis. >> the bipartisan bowl deficit plan had savings worth pursuing. >> they identified $1.1 trillion tax expenditures, benefits, deductions, credits and the like that could be cut as part of a grand bargain. i think we ought to look at that flat ten the code simplify it. >> harry reid told reporters yesterday he would like to get credit for what congress has previously cut. >> we have already done more than a billion dollars worth of cuts. >> the top democrat in the house took a simila
laughing in the white house negotiator's face. so is there any hope of a compromise over the fiscal cliff. we're talking to the newly re-elected minority whip steny hoyer coming up next. ♪ well, it's that time of year again. you know, picture-taking season. and with photo stream, you can share all the photos you want, with just the people you want. it's as easy as pie. mmmm..pie. [ female announcer ] holiday cookies are a big job. everything has to be just right. perfection is in the details. ♪ get to holiday fun faster with pillsbury cookie dough. >>> 17 minutes past the hour here on a friday. well, the white house plan to avoid the fiscal cliff to congressional leaders, and republicans, laughed in their faces. literally in the case of mitch mcconnell. >> the plan calls for $1.6 trillion in new tax revenues, $400 billion in cuts to medicare and other entitlements, $50 billion for a new stimulus, and republicans really didn't like this one, congress would have to give up control over raising the debt limit. we want to bring in now the recently re-elected house minority whip maryland c
is sending representatives to capitol hill to find a solution for the impending fiscal cliff today. republicans complained the white house has yet to provide specifics about how the president would curve the rapid growth of programs like medicare and medicaid. the president is insisting that tax rates go up on families will accede to under $50,000 a year. house speaker john banar is adamant that any tax revenues come from overhauling the tax code. clearing tax breaks and lowering rates for everyone. >> two tickets last night. one was sold in arizona one was sold in missouri in both matched all six numbers. arizona lottery officials said they have no information on the winter. they look at now is where it was sold at a press conference. two very lucky ticket holders. >> authorities have released the two names of two teenage girls were shot and killed during a weekend in oakland. 16 year old bobbysartan and 16 euro raquel gerstall will found 6:00 a.m. sunday morning with multiple gunshot spirit please do not have a motive for the killings now. they do not know why the girl for on an
, the president and the white house shoots down the republican's offer to avoid the fiscal cliff. is he really looking to compromise or is it the president's favorite deal no deal at all? laura ingraham weighs in live from washington in moments. >> brian: the dare program teaches kids about the dangers of drugs, won't talk about pot anymore. the reason? kids will smoke it anyway. they're giving up. really? really? "fox & friends" starts now. >> steve: that is something that they're scratching pot off the list. >> brian: it's legal now in some states and people are making believe they have illnesses so they can smoke it and buy it with prescriptions. >> gretchen: you don't have to make anything up. you can say you have a headache. >> brian: in colorado? can you write a -- you can't, but could dr. siegle? >> steve: for medical marijuana. >> brian: in new york? >> steve: i bet he could if if were legal here. >> gretchen: he was going to sew up your coat and so much more earlier today. >> brian: i don't need a surgeon necessarily. >> gretchen: let's get to your headlines. fox news alert. this one
. >>> rejected. the gop snubs the white house's opening offer in fiscal cliff talks. >>> upgraded palestine celebrates a new status despite stiff american opposition. >>> rich and now famous. we know the identity of one of those lucky power ball jackpot winners. >> that's good news. >> can't wait to meet that person. >> good morning. welcome to "early start." i'm christine romans. it's friday. >> happy friday. john berman is hosting "starting point" at 7:00. the middle east is getting ugly. insult and finger pointing in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him
the white house today about the fiscal cliff. treasury secretary, tim geithner said the administration is quote, absolutely ready to let the economy go over that cliff, rather than drop the higher tax rates for top earners. president obama also told a group of ceos, he won't republicans inject the threat of a government default into the current negotiations. >> that is a bad strategy for america. it is a bad strategy for your businesses, and it is not a game that i will play. >> in spite of the rhetoric, president obama and house speaker john boehner did speak by phone today for the first time in days. neither side is revealing what they discussed. >>> on wall street, stocks ended mixed with a fiscal cliff. the dow industrials gained 82 points amid optimism about a deal in washington perhaps in the next week. the tech heavy nasdaq fell 22 led lower by apple. its shares were 6% lower. apple's largest loss in a year. apple shares lost $37 to close at 538 and change. still apple stock is up more than $100 since the start of the year. >>> meantime, citigroup announced plans to cut 11,000 j
the fiscal cliff. treasury secretary, tim geithner said the administration is quote, absolutely ready to let the economy go over that cliff, rather than drop the higher tax rates for top earners. president obama also told a group of ceos, he won't republicans inject the threat of a government default into the current negotiations. >> that is a bad strategy for america. it is a bad strategy for your businesses, and it is not a game that i will play. >> in spite of the rhetoric, president obama and house speaker john boehner did speak by phone today for the first time in days. neither side is revealing what they discussed. >>> on wall street, stocks ended mixed with a fiscal cliff. the dow industrials gained 82 points amid optimism about a deal in washington perhaps in the next week. the tech heavy nasdaq fell 22 led lower by apple. its shares were 6% lower. apple's largest loss in a year. apple shares lost $37 to close at 538 and change. still apple stock is up more than $100 since the start of the year. >>> meantime, citigroup announced plans to cut 11,000 jobs, or 4% of its workforce. the c
stories in the mix at the moment. the big story is still and will remain the fiscal cliff. every time a policymaker on capitol hill or in the white house makes a speech about this or a station to the media, the markets move very aggressively. yes, there is a case in point where boehner and obama said there was progress that could be made towards a compromise. the markets turn around to 220 points on the dow. but on 20 points and the dow having been down 110 closed up 106 points. that's because john boehner said they could well be some progress on a compromise. that flies in the face of harry reid saying little progress is made. that is what is driving the u.s. markets and the global markets as well. the fed's beige book says there is a tepid growth. you have the housing market against that manufacturing and superstorm sandy. interesting stats expected out of the auto sectors. this could be good news. we think there may ab a pace of somewhere in the region of 15.2 million cars sold in november. the fact is that americans got very old fleet of cars. the average age of car now is 11 year
. with the senate and the house and the white house trying to get together on how to avoid the fiscal cliff. give us a call at 1-866-55-press. and president obama with an unusual guest for lunch at the white house today. none other than mitt romney himself. tagg, by the way, was not invited. secret service says he couldn't bring tagg along with him. no photographers will be allowed. no alcohol will be served. the white house has not released what the agenda will be but they did release the menu. mitt romney will be served a healthy helping of crow. can't wait to see that. we'll be right back here. but first let's get all of the latest today's current news update from lisa ferguson out in los angeles. hi lisa, good morning. >> hey bill, good morning everyone. the election may be over but many of president obama's supporters are not ready to call it quits just yet. obama for america is out with a new poll this week surveying one million obama voters and they found 80% want to continue volunteering. that will most likely be
. >> the fiscal cliff deal, charles krauthammer is talking about it. he calls it quote insulting. >> it's not just a bad deal. what geithner offers on the street robert e. lee was offered easier terms and he lost the civil war. democrats won by 3 percent of the voeft and they did not hold the house. republicans won the house. this is not the condition of surrender but that's what the administration is asking the republicans. they are not only cuts there are increase in spending with a new stimulus. this is almost unheard of. what do they expect? they obviously expect they will cave on everything. i think they ought to simply walk away. the president is the president. he is the leader. they are remanning republicans explain all of the cuts they want to mac. we had that movie a year and a half ago where paul ryan presented a budget a serious real budget with real cuts, obama was supposed to give a speech in which he would respond with a counteroffer. he gave a speech we had ryan sitting in the front row. he called the ryan proposal unamerican offered nothing and read on a med scare in the next 18 mo
of preventing the u.s. from falling off the "fiscal cliff." treasury secretary tim geithner and a white house aide plan to visit with the four house and senate leaders. they hope to find common ground on how to avert a series of tax increases and spending cuts scheduled to begin in january. >>> president obama will have lunch with mitt romney today the first time they meet face to face since their debate before the election. the event at the white house will be private. no aides will be present. no media will be allowed. >>> powerball ticketholders are checking their numbers twice today. >> yeah. good luck. the record-breaking jackpot $588 million. the numbers drawn last night just in case 5, 16, 22, 23, 29 and the powerball number was 6. two winning tickets sold in arizona and missouri. californians may be able to cash in though on powerball prices next year. it's not in our state but lottery officials are meeting this morning up in sacramento trying to hammer out details that would allow the golden state to join the 42 other states in the powerball drawing. california state officials say by
with business leaders again today to talk about the consequences of going over the fiscal cliff. he's also claiming to call on congressional leaders to make sure we raise the debt ceiling without contention. the white house making the case that extending the bush tax cuts for the middle class is directly connected to the health of our businesses. companies need to know consumers will be able to spend and in his first post-election interview president obama again rejected the house republican counteroffer that is on the table. >> unfortunately the speaker's proposal right now is still out of balance. we're going to have to see the rates on the top 2% go up and we're not going to be able to get a deal without it. >> let's hope he sticks to it. >> g.o.p. leaders aren't only dealing with the president and congressional democrats they're dealing with a split within their own ranks. more conservative republicans don't want party leaders to compromise anymore than they think they already have. even though the republican plan offers u
's where he will also talk about his plan to avert the so-called fiscal cliff. comments yesterday from house speaker john bohener hinted lawmakers are back to square one on settling the cliff chatter. "no subsantive progress has been made in the talks between the white house and and the house over the last two weeks." the stock market briefly sold off on boehner's comments, but then bounced back. optimism had been growing after president obama and representative boehner made remarks wednesday that a deal could be worked out. now speaker boehner insists there are still many roadblocks in the way. last night, boehner offered no details but rejected the democrats' $4-trillion plan presented by treasury secretary timothy geithner. investors have a more optimistic view on the global economy. a new survey by bloomberg shows 2/3 of investors surveyed described the worldwide economy has either stable or improving. overall, they considered the global economy to be in the best shape in 18 months. when asked which countries will offer the best investing opportunities for next year, the u.s. rank
." democrats are calling president obama's plan to avoid the fiscal cliff an opening bid. some republicans have different words for it, joke. >> major garret is at the white house and reports on the president's plan and the strong reaction it got from republicans on capitol hill. major, good morning. >> reporter: good morning, charlie and norah t. the white house brought real numbers and republicans called them an insult, concocted in never neverland. so much for a week of work here in washington to avert what's called the fiscal cliff. treasury secretary tim geithner gave house republicans new ideas on resolving the fiscal cliff. and left with their anger ringing throughout the capitol. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. i've got to tell you, i'm disappointed. >> reporter: here are the big white house numbers. for $4 trillion deficit reduction in ten years, $1.6 trillion comes from households earning more than $250,000 a year. $400 billion in entitlement cuts in program like medicare and medicaid and $50 billion
about a compromise on the fiscal cliff gone now. the white house and congressional republicans seem to be digging in their heels, and americans are bracing for what could be some very real and very painful consequences. >>> one person in missouri not so worried about the fiscal cliff. he or she is ready for a huge payday. powerball officials there set to reveal one to have two winners of that jackpot topping half a billion dollars. we'll tell you who it is. >>> and this photo was just recently taken, but it's already iconic. a new york city cop buying boots for a homeless man on a bitterly cold night. you'll hear from the officer coming up. brand new stories and breaking news on this second hour of ow howe. "happening now." jenna: we're going straight to the president who's in pennsylvania. he's actually at a toy factory, that's what's behind him. in this factory th makes kinects brand toys, the president making this appearance to talk about a fiscal cliff as well. so we're going to listen in to what he has to say potentially about these negotiations. [cheers and applause] >> i want
up with one-time rival mitt romney for lunch at white house. could a solution to the fiscal cliff be on the menu? live report from washington straight ahead. >> plus this -- stunning video out of syria, rebels cheer after a military helicopter is shot down. what does it mean for the united states? >>> drones. we know the military uses them. well, get ready for drones possibly buzzing your house. >>> and forget steroids. adderall is the new p.e.d. and four nfl players are suspended. >>> cup of joe, only one question left. something you would buy? >> no, not at all. >> "newsroom" starts now. >> good morning to you. thank you so much for being with me. i'm carol costello. we begin in washington today where president obama will play host to mitt romney this afternoon andn what could be one of the most anticipated meals in the nation's capital since thanksgiving. white house correspondent dan lothian joins me now. so, i don't know. i would love to be a fly on the wall. wouldn't you? >> no cameras allowed inside for this lunch. this is something the president said he wanted to do in hi
the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> speaker boehner made very clear at his press conference that he thinks the ball is in your court and the president's court. he says democrats have got to get series about spending cuts. where is the disconnect? >> i don't understand his brain so you should ask him. okay? >> reid making those comments to our own kate bolduan. i'm joined by dan lothian. dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare. and then the plan also includes $50 billion in stimulus spending. democrats see this really as sort of the opening s
the rope line. he is pushing his plan to avoid the fiscal cliff. is he standing firm on raising taxes for the wealthiest americans. want to bring in our chief white house correspondent jessica yell toin give us a breakdown of exactly what he has put on the table here because we know that both sides, they start off strong. they start off with the best offer they got, the strongest offer they got, and clearly, the republicans not quite happy about it. what is he offering? >> it's sort of a starting position from the white house. what secretary geithner laid out when he was visiting capitol hill yesterday was the headline $1.6 trillion in new taxes as part of their overall vision to increase those taxes for people making $250,000 more, but that also includes some changes to how much people can deduct, closing loopholes. increasing taxes for dividends and capital gains and some other things. then some other aspects of the wish list from the president. $50 billion in new stimulus spending next year, and then in return they would find $400 billion in cuts to medicare and other entitlements
of getting the fiscal cliff deal done before everyone's taxes go up. >> consolation lunch? president obama visits mitt romney to the white house today and everyone is buzzing about it. could obama offer him a job? >> congratulations to someone. you just won the gdp of a small nation. not just one but two winning tickets in last night's record powerball drawing. we'll tell you where. >> and if they will be my best friend soon. we have a packed show. john ba, rasso, adam shif, rick warren, tom cole, connie and mary bono mack and steven holcomb. >> we have so many people coming up. it is thursday, november 2. "starting point" begins right now. >>> good morning, everyone. our starting point this morning, developments happening now in cairo. the u.s. embassy there is closed. no one is being allowed in or out as we speak. >> embassy officials say protesters are blocking the entrance and clashes are happening near nearby. reza sayah is nearby for us. what's happening? >> reporter: there is no indication protesters are targeting the u.s. em wibassy b it was closed as a precaution. these are protes
$4 million. >> eric: december 17 to january 6. fiscal cliff hits december 31. smack dab in middle of this vacation. he snub hawaii, body surfing. >> kimberly: conduct unbecoming. he said in the last 30 days he got woke up in one debate. other than that, he is kicking it on the "the view." check me out. pinch with a limp. >> brian: i believe he knows it's his economy now. clearly. he goes on vacation. if this is done he is not body surfing. he knows he will be tortured and ongoing katrina. john boehner is frustrated after a closed door meeting with geithner. >> eric: brian's point, vacation is on because president obama knows he has a deal. >> dana: i don't think -- well, one, the present doesn't have a spending cut plan. why is everyone looking at us. where is your plan, sir? now the democrats are starting to realize wait, i think they are on to us. president obama sacrificed going to hawaii with his family. going to stay behind. they will fawn over him for not going to hawaii. >> bob: that happened last year. if you accept the bush tax cut last time. family went off and obama sta
over the fiscal cliff is serious business. >> reporter: any real deal-making is the stuff of quiet conversations and meetings. rob neighbors used the language of high-stakes diplomacy to respond to john boehner's complaint >> i thought the conversation was very direct. and as always, i appreciate directness. >> reporter: while the senate majority leader, harry reid, was very blunt about being pessimistic. >> i don't understand his brain, you should ask him. >> reporter: visiting their nation's capitol today, mixed expectations from tourists from georgia and texas >> i hope they get it, more than i did before the election. >> of course i'm nervous, you never know what politicians are going to do. >> reporter: democrats, still lifted by their election success, argued that voters chose higher tax rates for wealthy americans as part of any plan to cut the deficit. and say republicans will have to give in. >> did speaker john boehner get the message? because the message was work together. >> they're not going to openly concede on this point this far out from the deadline, but they see t
the fiscal cliff. >>> also at the top of the hour, former white house council economic provider greg mankiw. from currency trading for a few to a currency market for everyone. the potential of fxcm unlocked. nyse euronext. unlocking the world's potential. the potential of yelp unlocked. nyse euronext. unlocking the world's potential. >>> welcome back, everybody. secretary treasurer time dpiet nev geithner is going to be speaking today. majority leader eric cantor, house bunt committee chairman paul ryan and the chairman of the house is tax's ways and mean committee, also lunch with republican senate minority leader mitch mcconnell and nancy pelosi. he has a pretty full schedule today. >>> yesterday a number of high-profile corporate leaders met with president obama at the white house including goldman sachs' ceo lloyd blankfein. >> at this point both sides had acknowledged there was going to be revenue concessions and entitlement concessions. in fact, if you listen to it, again, i'm not a master of the political art here and i'm not no washington, but i would say if you had these point of v
at's where we begin this morning. >> fiscal cliff deadline, president obama sends his treasury secretary to capitol hill to negotiate with congre congressional leaders. major garret is at the white house. good morning. >> charlie and norah, even as negotiations intensify, campaigning continues at the white house. president obama is adamant about protecting existing income tax rates for middle income earners and raising them on the wealthy. for the president the politics of this is very simple. he he ran on that issue and against republican obstructionism and won. if republicans don't relent on his issue, other fiscal cliff matters won't be discussed in the president's campaign to end the stalemate will continue. -election pond time since winning re-election, president obama welcomed the applause of hand-picked supporters and wa his calls tolicans not to ignore is calls to protect middle class households. >> it's time for us to work on >> reportel agreed to, which is allow eep middle class tax cuts for >> tax cuts for households that earn more than $250,000 to in a expire. incre
, rope-a-dope. where does that leave us after months of hearing about the fiscal cliff, no signs of a compromise plan yet. chief white house correspondent jessica yellin here now. jessica, what happened to all this, hey, willing to work together, let's compromise, let's do what the american people want, we got a couple of days here before we go on vacation? what happened? >> reporter: i don't know. maybe it is always darkest before the dawn? that's the most optimistic way to look at it, i guess. look, the white house would look at it this way or democrats at least, they have been frustrated that they argue that republicans have not come to the table with specifics on how they would raise taxes. the president as you know campaigned on this pledge to raise taxes on the upper income, and they want to hear what republicans are willing to do on that. so they said since the republicans weren't given specifics, okay, the white house went up there, and delivered an opening position, was not written down on paper, not sort of a formal offer, here's what we want, it was a starting position
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